Sector Update: Tech Stocks Retreat Friday Afternoon

MT Newswires Live

Feb 08, 2025

Tech stocks fell in Friday afternoon trading with the Technology Select Sector SPDR Fund (XLK) decreasing 0.8% and the SPDR S&P Semiconductor ETF (XSD) dropping 2.4%.

The Philadelphia Semiconductor index declined 1.8%.

In corporate news, Amazon.com (AMZN) reported higher Q4 earnings and net sales late Thursday and issued Q1 net sales guidance below expectations by analysts. The shares fell 3.8%.

Microsoft-backed (MSFT) OpenAI is set to receive a $40 billion primary investment from SoftBank at a $260 billion pre-money valuation, CNBC's David Faber reported. Microsoft shares fell 1.6%.

Pinterest (PINS) shares jumped 17%, a day after the company forecast double-digit Q1 revenue growth and posted better-than-expected sales in Q4.

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The shares fell 3.8%.</p><p>Microsoft-backed (MSFT) OpenAI is set to receive a $40 billion primary investment from SoftBank at a $260 billion pre-money valuation, CNBC's David Faber reported. Microsoft shares fell 1.6%.</p><p>Pinterest (PINS) shares jumped 17%, a day after the company forecast double-digit Q1 revenue growth and posted better-than-expected sales in Q4.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE0034235303.USD","symbol_name":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2509720956","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2509720956","pubTimestamp":1738954573,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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